Using Contingent Valuation Method to Estimate Adults’ Willingness to Pay for a Future Coronavirus 2019 Vaccination

Vo, Nam Xuan; Nguyen, Tram Thi Huyen; Nguyen, Phuong Lan Tran; Trần, Quang Vĩnh; Vo, Trung Quang

doi:10.1016/j.vhri.2021.01.002

Cited by 31 publications

(37 citation statements)

References 24 publications

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“…Willingness to pay for the vaccine varied among the countries and depended on the price. The median prices people were willing to pay for the vaccine were as low as 7.08 USD in Bangladesh [61] up to 85.92 USD in Southern Vietnam [62] . Finally, the rates of parents’ willingness to vaccinate their children varied from less than 50% [63] up to 76% [64] , while the countries of the Middle East's similar willingness regarding their children's vaccination (from around one third in among Turkish general population [65] up to 75% among Turkish pediatricians [66] ).…”

Section: Resultsmentioning

confidence: 98%

Attitudes, acceptance and hesitancy among the general population worldwide to receive the COVID-19 vaccines and their contributing factors: A systematic review

et al. 2021

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Background High rates of vaccination worldwide are required to establish a herd immunity and stop the current COVID-19 pandemic evolution. Vaccine hesitancy is a major barrier in achieving herd immunity across different populations. This study sought to conduct a systematic review of the current literature regarding attitudes and hesitancy to receiving COVID-19 vaccination worldwide. Methods A systematic literature search of PubMed and Web of Science was performed on July 5th, 2021, using developed keywords. Inclusion criteria required the study to (1) be conducted in English; (2) investigate attitudes, hesitancy, and/or barriers to COVID-19 vaccine acceptability among a given population; (3) utilize validated measurement techniques; (4) have the full text paper available and be peer-reviewed prior to final publication. Findings Following PRISMA guidelines, 209 studies were included. The Newcastle Ottawa (NOS) scale for cross-sectional studies was used to assess the quality of the studies. Overall, vaccine acceptance rates ranged considerably between countries and between different time points, with Arabian countries showing the highest hesitancy rates compared with other parts of the world. Interpretation A variety of different factors contributed to increased hesitancy, including having negative perception of vaccine efficacy, safety, convenience, and price. Some of the consistent socio-demographic groups that were identified to be associated with increased hesitancy included: women, younger participants, and people who were less educated, had lower income, had no insurance, living in a rural area, and self-identified as a racial/ethnic minority.

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Section: Resultsmentioning

confidence: 98%

Attitudes, acceptance and hesitancy among the general population worldwide to receive the COVID-19 vaccines and their contributing factors: A systematic review

et al. 2021

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“…This paper identified nine hypothetical COVID-19 vaccine CV scenarios by selecting different vaccine attributes using an orthogonal experimental design and estimated respondents’ WTP for vaccines. The result of the log-normal parameter model showed that the mean WTP for the nine vaccine scenarios was in the range of ¥871.08–1087.46, which was relatively similar to the $184.72 and $232 WTP result in Chile [ 14 , 15 ], higher than the $57 WTP result in Indonesia [ 16 ], higher than the $85.92 WTP result in southern Vietnam [ 18 ] and higher than the ¥254 WTP result in China [ 19 ] but lower than the $318.8–424.6 range in Ecuador [ 17 ]. There are many factors that contribute to the variation in WTP, including differences in economic levels, cultures and ethnic habits between countries, and the different outbreak conditions of COVID-19 at different moments can also lead to changes in the WTP [ 17 ].…”

Section: Discussionmentioning

confidence: 94%

“…The CV method is a typical stated preference technique used to estimate WTP and has been widely used for various vaccines, e.g., dengue vaccines [ 6 – 8 ], pneumococcal vaccines [ 9 , 10 ], cholera vaccines [ 11 – 13 ] and others. There are currently several studies that use the CV method to estimate the WTP for the COVID-19 vaccine across different countries, such as Chile [ 14 , 15 ], Indonesia [ 16 ], Ecuador [ 17 ], Vietnam [ 18 ] and China [ 19 ]. These studies have provided some significant information in terms of understanding the public’s preference for the COVID-19 vaccine; however, the issue of scope was ignored by these studies when using the CV method.…”

Section: Introductionmentioning

confidence: 99%

Scope Issue in Contingent Valuation Studies of the COVID-19 Vaccine: The Case of China

Xiao

Wang

et al. 2022

Appl Health Econ Health Policy

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Background Assessing the public’s willingness to pay (WTP) for the coronavirus disease 2019 (COVID-19) vaccine by the contingent valuation (CV) method can provide a relevant basis for government pricing. However, the scope issue of the CV method can seriously affect the validity and reliability of the estimation results. Aim To examine whether there are scope issues in respondents’ WTP for the COVID-19 vaccine and to further verify the validity and reliability of the CV estimate results. Method In this study, nine different CV double-bounded dichotomous choices (DBDC) hypothetical COVID-19 vaccine scenarios were designed using an orthogonal experimental design based on the vaccine’s attributes. A total of 2450 samples from 31 provinces in Mainland China were collected to independently estimate the public’s WTP in these nine scenarios with logistic, normal, log-logistic and log-normal parameter models. Based on this estimation, several external scope tests were designed to verify the validity and reliability of the CV estimate results. Results In the 20 pairs of COVID-19 vaccine scenarios, 6 pairs of scenarios were classified as negative scope issues, therefore not passing the external scope test. Of the remaining 14 pairs of scenarios, only four pairs of scenarios completely passed the external scope test, and one pair of scenarios partially passed the external scope test. Significant negative scope and scope insensitivity issues were revealed. Conclusion In the context of a dynamic pandemic environment, the findings of this study reveal that the CV method may face difficulty in effectively estimating respondents’ WTP for the COVID-19 vaccine. We suggest that future studies be cautious in applying the CV method to estimate the public’s WTP for the COVID-19 vaccine. Supplementary Information The online version contains supplementary material available at 10.1007/s40258-021-00706-9.

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“…( 2020 ), and Vo et al. ( 2021 ) in assessments of country‐specific willingness to pay (WTP) for COVID‐19 vaccines using CV methods. This approach, unsurprisingly, did not yield a representative sample of our targeted population.…”

Section: Discussionmentioning

confidence: 99%

“…Concurrent with our research, additional studies have recently been published on willingness to pay for a COVID‐19 vaccine using the contingent valuation (CV) in developing countries: Chile (Cerda & García, 2021 ), Ecuador (Sarasty et al., 2020 ), South Vietnam (Vo et al., 2021 ), and Indonesia (Harapan et al., 2020 ).…”

Section: Endnotesmentioning

confidence: 95%

Immediate and informative feedback during a pandemic: Using stated preference analysis to predict vaccine uptake rates

2021

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In response to an emerging pandemic, there is urgent need for information regarding individual evaluation of risk and preferences toward mitigation strategies such as vaccinations. However, with social distancing policies and financial stress during an outbreak, traditional robust survey methodologies of face‐to‐face, probabilistic sampling, may not be feasible to deploy quickly, especially in developing countries. We recommend a protocol that calls for a sensitive survey design, acceptance of a web‐based approach and adjustments for uncertainty of respondents, to deliver urgently needed information to policymakers as the public health crisis unfolds, rather than in its aftermath. This information is critical to tailor comprehensive vaccination campaigns that reach critical immunity thresholds. We apply our recommendations in a regional study of 16 Latin American countries in the month following index cases of COVID‐19. We use a split‐sample, contingent valuation approach to evaluate the effects of cost, duration of immunity and effectiveness of the vaccine. Our results show that cost and duration of immunity are significant factors in the decision to vaccinate, while the degree of effectiveness is insignificant, unless the vaccine is 100% effective. Income as well as perceived risk and severity of the virus are important determinants also.

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Using Contingent Valuation Method to Estimate Adults’ Willingness to Pay for a Future Coronavirus 2019 Vaccination

Cited by 31 publications

References 24 publications

Attitudes, acceptance and hesitancy among the general population worldwide to receive the COVID-19 vaccines and their contributing factors: A systematic review

Attitudes, acceptance and hesitancy among the general population worldwide to receive the COVID-19 vaccines and their contributing factors: A systematic review

Scope Issue in Contingent Valuation Studies of the COVID-19 Vaccine: The Case of China

Immediate and informative feedback during a pandemic: Using stated preference analysis to predict vaccine uptake rates

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